After months of controversy and damage control, Samsung has officially announced its plans to end production on the Samsung Galaxy Note 7.
“Taking our customer’s safety as our highest priority, we have decided to halt sales and production of the Galaxy Note 7,” said the company in a statement.
This announcement comes on the heels of new issues, including the recall of the supposedly safe Note 7 replacement phones given to customers.
All consumers of original and replacement Note 7 phones worldwide have been urged to power the phones down completely and return them to wherever they were purchased.
It was in August, less than a month after the phone’s release, that reports began to circulate of the phone catching fire due to defective batteries.
By September, Samsung released a recall on all the phones and began to distribute replacement devices.
While the worldwide discontinuation of the Note 7 was widely expected, the decision still marks a notable period for the technology giant, as it is estimated lose as much as $17 billion as a result in addition to an eight percent drop in shares, the greatest one-day deficit in the company’s history this decade.
